NexOptic Technology (TSE:NXO) has released an update.
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NexOptic Technology is set to raise up to $1 million through a private placement to bolster its AI and imaging technologies, particularly in data compression and medical imaging. The company is also streamlining its operations by discontinuing some affiliations and closing its Korean subsidiary, while enhancing its AI compression offering for cost and energy savings. Proceeds from the offering will also support marketing, sales, and general corporate purposes.
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